Miller Industries, Inc. (NYSE:MLR) Shares Sold by Algert Global LLC

Algert Global LLC lowered its position in shares of Miller Industries, Inc. (NYSE:MLR) by 12.4% during the fourth quarter, Holdings Channel reports. The fund owned 25,201 shares of the auto parts company’s stock after selling 3,582 shares during the quarter. Algert Global LLC’s holdings in Miller Industries were worth $1,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royce & Associates LP boosted its holdings in shares of Miller Industries by 29.8% during the fourth quarter. Royce & Associates LP now owns 644,607 shares of the auto parts company’s stock worth $42,132,000 after purchasing an additional 148,079 shares during the last quarter. Portolan Capital Management LLC acquired a new position in shares of Miller Industries during the 4th quarter valued at about $9,366,000. Norges Bank purchased a new position in shares of Miller Industries during the 4th quarter worth about $1,850,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Miller Industries by 15.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,271 shares of the auto parts company’s stock worth $11,652,000 after acquiring an additional 24,427 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Miller Industries by 58.6% in the fourth quarter. JPMorgan Chase & Co. now owns 58,606 shares of the auto parts company’s stock worth $3,830,000 after acquiring an additional 21,643 shares during the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Stock Performance

Shares of MLR stock opened at $45.33 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. The firm has a market capitalization of $519.44 million, a price-to-earnings ratio of 7.52 and a beta of 1.20. Miller Industries, Inc. has a one year low of $37.40 and a one year high of $78.25. The company has a 50 day moving average price of $42.78 and a 200 day moving average price of $58.81.

Miller Industries (NYSE:MLR) last issued its earnings results on Wednesday, May 7th. The auto parts company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.09. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. The business had revenue of $225.65 million for the quarter, compared to analyst estimates of $224.35 million. Sell-side analysts anticipate that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Monday, June 2nd. Miller Industries’s payout ratio is currently 14.57%.

Miller Industries Company Profile

Miller Industries, Inc, together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.